By Providence Obuh

The down slide on the Nigerian Stock Exchange NSE persisted Wednesday, as equities value represented by the market capitalisation declined by N10.80 billion.

In particular, the NSE capitalisation depreciated by 0.13 per cent to close at N8.239 trillion from N8.250 trillion at which it opened. The All share index dipped by 0.13 per cent or 33.79 basis points to close at 25,788.06 points from 25,821.85 points.

Ashaka Cement Plc recorded the most share price loss on the losers table dropping by 4.95 per cent or N1.26 to close at N24.20 per share, Costain West Africa Plc followed with a loss of N0.27 to close at N5.22 per share and Evans Medical Plc dropped by N0.06 to close at N1.17 per share.

Other share price losers include: Cement Company of Northern Nigeria Plc N0.56, Union Homes and Savings Plc N0.03, Finbank Plc N0.03, Starcomms Plc N0.03, Diamond Bank Plc N0.24, UAC Nigeria Plc N1.50, B.O.C Gases Plc N0.20, among others.

On the other hand, Associated Bus Company Plc led on the gainers table with five per cent or N0.03 to close at N0.63 per share, Guinness Nigeria Plc followed with N10.76 gain to close at N226.01 per share and Honey Well Flour Mill Plc garnered N0.24 to close at N5.07 per share.

Other share price gainers include: Ikeja Hotel Plc N0.07, Continental Reinsurance Plc N0.05, Glaxo Smithkline Consumer Plc N1.25, Presco Plc N0.34, RT Briscoe Plc N0.12, Red Star Express Plc N0.13, Japaul Oil and Maritime Services Plc N0.06, among others.

However, equity trading appreciated by 13.74 per cent as a turnover of 400.30 million shares valued at N3.82 billion was recorded in 5,435 deals, in contrast to the previous day’s turnover of 351.95 million shares valued at N2.79 billion in 5,951 deals.

The Banking sub-sector dominated the other sub-sector on the sectorial analysis accounting for 64.04 per cent of the market turnover with 256.36 million shares valued at N2.47 billion in 3,252 deals. First Bank of Nigeria Plc was the most sought after in the sub-sector trading 62.40 million shares valued at N855.28 million in 668 deals. Guaranty Trust Bank Plc followed with the exchange of 51.57 million shares valued at N828.01 million in 616 deals and United Bank for Africa Plc recorded 29.63 million shares valued at N196.63 million in 223 deals.

Agriculture/Agro-Allied sub-sector trailed behind the Banking sub sector on the sectorial analysis accounting for 8.72 per cent of the market turnover with 34.89 million shares valued at N532.98 million in 25 deals. Okomu Oil Palm Plc enjoyed the most patronage in the sub-sector trading 34.65 million shares valued at N531.27 million in 14 deals, Presco Plc followed with the exchange of 228,720 shares valued at N1.70 million in eight deals and FTN Cocoa Processors Plc recorded 6,648 shares valued at N3,324.00 in two deals.

The Information technology sub sector followed behind the Agricultural sub sector recording a total of 29.001 million shares valued at N14.636 million.

Chams Plc accountted for the bulk shares traded in the sub sector with 28.383 million turnover.